Newbuilding Orders Keep Piling Up

Newbuilding ordering activity remained elevated over the course of the past week. In its latest weekly report, shipbroker Banchero Costa said that “newbuilding business focus of the week is the activity in the tanker market which keeps on piling up. The orderbook for all type of ships is reaching a highest compared to the last decade and sensibly higher than the minimum registered during late 2020. Tanker contributes to be the main driver of growth in the global order book, both for the very healthy market combined with the high price of very modern tonnage which makes the NBs a more “attractive” investment. Starting from crude market and large tonnage, Chandris have firmed a single slot for VLCC at Hanwha (ex DMSE) for a price around $ 130m scrubber fitted. Dalian KHI in China got an order for two VLCC for undisclosed account which could be either local chinese Owner or a speculative order with an aim to resell at a profit closer to the delivery. Price is not reported, deliveries end 2027 and early 2028. Major trader Trafigura is rumoured to have added more VLCC to their orberbook at New Hantong, to a total of five units. In the product tanker segment, price for MR2 have reached a historical high; middle eastern based Onex selected Hyundai in Vietnam for delivery in 2026 and 2027 for two x 50,000 dwt at a price of mid $ 53m. Mercuria added LR1 at his orderbook at Yangzijiang two units for a total price of about $ 112m.”

Meanwhile, in the S&P market, shipbroker Xclusiv said that “dry bulk S&P activity revs up after Posidonia week concluded. On the Newcastlemax sector, the Scrubber fitted “Classic Aro” – 206K/2008 Imabari was sold for high USD 26 mills to Chinese buyers basis TC attached at USD 20K/day till min July 2025 – max Jan 2026. Back in April 2022, current sellers had acquired that vessel for high USD 26 mills. The Panamax “Coral Jasper” – 78K/2012 Shin Kurushima found new owners for high USD 22 mills. High S&P activity was noted mainly on the Supramax/Ultramax sectors.

Korean buyers acquired the Scrubber fitted “Western Oslo”- 64K/2019 Nantong Xiangyu for USD 32 mills, while the one year older Scrubber fitted Japanese built “Velvet” – 63K/2018 Oshima was sold for USD 35.5 mills. Moreover, the Scrubber fitted “August Oldendorff”- 61K/2015 JMU and the “Alwine Oldendorff” – 61K/2014 JMU were sold for USD 30.5 mills each to Far Eastern buyers. On the Supramax sector, the “Gillingham”- 58K/2010 Yangzhou Dayang changed hands for USD 13.9 mills. Last but not least, on the Handysize sector, the “Western Panama” – 39K/2015 JNS was sold for USD 18.6 mills to clients of Precious shipping”.

The shipbroker added that “tanker S&P activity was also firm, with 10 vessels founding new owners. Greek buyers acquired the LR1 “Avra Patros”- 75K/2008 Sungdong for USD 29.75 mills. Scorpio tankers announced the sale of 5x MR2 vessels. The “STI Beryl”- 50K/2013 in HMD was sold for USD 36.6 mills to Great Eastern. The Scrubber fitted “STI Garnet” – 50K/2012 HMD, the Scrubber fitted “STI Onyx” – 50K/2012 HMD, the “STI Ruby” – 50K/2012 HMD & the Scrubber fitted “STI Topaz” – 50K/2012 HMD were sold for USD 35.625 mills each. Finally, on the same sector, the “Neutron Sound”- 50K/2007 SPP found new owners for excess USD 23 mills”, Xclusiv concluded.

Nikos Roussanoglou, Hellenic Shipping News Worldwide